Thursday, November 26, 2009

GOLD IS A COMPLERE ROUT, BUT LOOKS LIKE IT HAS HIT BOTTOM HERE




GIVE THE MARKETS TIME SORT THIS DUBAI MESS OUT DURING THIS THIN HOLIDAY MARKET


GOLD SHOULD MOVE UP FROM HERE, BUT THE MARKETS ARE CONVULSING FROM THE DUBAI MESS


GOLD GETS BOMBED



GOLD FALLS TO THE 75% RETRACE POINT


GOLD ACTING LIKE IT'S GOING LOWER


GOLD HITS THE 2ND RETRACE POINT AND RALLIES


WILL THE BLUE UPTREND LINE HOLD?


30 MINUTE DECEMBER TBOND CHART (delayed prices)


30 MINUTE DECEMBER EURO CHART (delayed prices)


STOCKS DOWN 200 POINTS ON DUBAI SITUATION, DOLLAR SPIKES UP, EURO FALLING


HOURLY S&P 500 CHART


15 MINUTE DOLLAR CHART

WILL THE WHITE DOWNTREND CHANNEL LINE HOLD GOLD DOWN?


GOLD BREAKS OUT OF THE THIN WHITE DOWNTREND CHANNEL AND NOW IS PULLING BACK, WILL PROBABLY MOVE UP FURTHER AFTER THE PULLBACK


THE BLUE UPTREND CHANNEL MAY BE IN CONTROL
WITHIN THE LARGER MORE DOMINANT YELLOW
UPTREND CHANNEL

TRENDLINES REDRAWN, GOLD SEEMS TO BE RESPECTING THE BLUE UPTREND LINE FOR NOW AND IS FORMING A LONG LEDGE/TRADING RANGE TO FALL FROM


GOLD DROPS BELOW THE BLUE UPTREND LINE AND SHOULD MOVE LOWER AS DESCRIBED


GOLD MAKING LOWER HIGHS, SOON LOWER LOWS




GOLD ABOUT TO FALL THROUGH THE BLUE UPTREND LINE


GOLD HITS THE 1ST RETRACE POINT


GOLD RALLIES A BIT BUT FALLS LOWER.
I THINK IT WILL GO TO THE YELLOW UPTREND LINE
BEFORE RALLYING FOR REAL

A NORMAL RETRACE WOULD BE TO THE 1ST POINT SHOWN AT 1186.60, THE NEXT IS AT 1184.60, I'M BETTNG ON THE YELLOW UPTREND LINE


GIVEN THE VOLATILITY OF THIS MARKET, I WANT
THE LOWEST BUY IN I CAN GET.
I KNOW GOLD IS GOING TO GO HIGHER, SO I DON'T
WANT TO BUY IN ANY HIGHER THAN NECESSARY
AS IT IS MOVING UP AND DOWN SO MUCH, I DON'T WANT
TO GET UPSIDE DOWN ANY MORE THAN IS ACCEPTABLE
ON ANY POSITION.
YOU ALMOST NEVER GET THE BOTTOM PRICE, SO YOU
JUST WANT TO GET CLOSE TO THE BOTTOM ON YOUR
BUY IN

GOLD RETRACE BACK UP 61.8%, NOW FALLING AGAIN


THE DUBAI SITUATION SHOULD BE STUDIED. IT
SHOULD MAKE GOLD GO UP AS IT IS JUST ONE MORE
NAIL IN THE DOLLAR'S COFFIN, BUT WHO KNOWS
ANYMORE HOW THESE MARKETS WILL REACT IN THE
SHORT TERM?

GOLD SINKS ON THE EVENING GOLD OPEN, NOW RALLYING ON LIGHT VOLUME, SHOULD DROP FURTHER TO THE YELLOW UPTREND CHANNEL LINE


GLOBEX CLOSED AT 10:15AM PST FOR HOLIDAY


GLOBEX RE-OPENS TODAY AT 3PM PST AND CONTINUES
THROUGH FRIDAY UNTIL 10:15AM PST FOR AN EARLY
HOLIDAY CLOSE FOR THE WEEKEND
THEN RE-OPENS SUNDAY AT 3PM PST

POSSIBLE RETRACE POINTS BACK DOWN



GOLD CONTINUES ITS STRONG RALLY RIGHT INTO
THE EARLY CLOSE ON GLOBEX AT 10:15AM PST

BEAUTIFUL RALLY UP TO THE LAST 75% RETRACE POINT PLUS SOME, NOW A PULL BACK? OR JUST UP TO NEW HIGHS?




GOLD DEFINITELY FOUND A BOTTOM AND IS RISING FAST, MAY NOT EVEN PULL BACK MUCH AS IT MOVES HIGHER


GOLD MOVES UP TO THE NEXT RETRACE POINT







GOLD PULLS BACK, MAY FIND SUPPORT AT THE WHITE DOWNTREND CHANNEL TOP LINE


LOOKS LIKE GOLD FOUND A BOTTOM


GOLD SHOOTS RIGHT BY THE RETRACE POINTS

DOW DOWN 200 POINTS, OIL, EURO DOWN, GOLD SLIPPING


NO DOLLAR CHARTS TODAY DUE TO HOLIDAY
MARKETS ARE TRADING ELECTRONICALLY AND
ARE THIN, BUT GOLD COULD RISE STRONGLY IF
IT HITS A LOW THAT BUYERS LIKE.

GOLD ACTING WEAK


IS THIS A LEDGE TO FALL FROM?


STOCKS, OIL, EURO DOWN HARD

GOLD TAKES A HIT, A GOOD PLACE TO BUY?


GOLD TRADES ON GLOBEX ALL DAY TODAY




MOVING AVERAGES


GOLD PULLS BACK AS TURKEY DAY APPROACHES AND THIN TRADING OCCURS